Consumer Discretionary Bullish, Over Weight. The Relative Strength Ratio rose above 12-year highs on 11/26/10 and remains bullish. XLY has been at the top of my sector rankings for more than a year and has outperformed substantially. Absolute price rose above 3-year highs on 12/7/10 and remains bullish. Support 37.15, 35.32, 35.02, 34.78, 33.94, 33.11, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance 37.88, 38.25, and 39.09.
Energy Bullish, Over Weight. The Relative Strength Ratio rose further above 12-month highs on 12/6/10 and remains bullish. Absolute price rose further above 2-year highs on 12/6/10 and remains bullish. Support 65.03, 60.96, 60.21, 57.70, 55.68, 53.22, 50.33, 48.56, 46.16, and 43.66. Resistance 67.00, 69.95, and 78.10.
Industrial Bullish, Over Weight. The Relative Strength Ratio rose above 2-year highs on 12/16/10 and remains bullish. Absolute price rose above 2-year highs on 12/16/10 and remains bullish. Support 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 34.43, 35.00, and 36.16.
Materials Bullish, Over Weight. The Relative Strength Ratio rose above 11-month highs on 12/7/10 and remains bullish. Absolute price rose above 2-year highs on 12/7/10 and remains bullish. Support 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 37.61 and 39.00.
Technology Neutral, Market Weight. The Relative Strength Ratio fell below 8-week lows on 12/16/10 and turned neutral for the secondary trend. This RS ratio rose above 8-year highs on 11/3/10, which was a bullish confirmation of the primary uptrend. Absolute price of XLK rose above 2-year highs on 11/4/10 and remains bullish. Support 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 25.32 and 25.69.
Consumer Staples Bearish, Under Weight. The Relative Strength Ratio fell further below 7-month lows on 12/10/10 and remains bearish. Absolute price rose above 2-year highs on 12/16/10 and remains bullish. Support 29.10, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance 30.29.
Health Care Bearish, Under Weight. The Relative Strength Ratio fell below 2-year lows on 12/9/10 and remains bearish, as it has been most of the time since peaking on 2/23/09. Thanks to a bounce over the past 3-days, absolute price of XLV is technically bullish. Support 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 31.79, 32.05, 32.18, 32.42, 32.69, 33.16, 33.37 and 33.74.
Financial Neutral, Market Weight. The Relative Strength Ratio rose above its 50-day SMA on 12/8/10, thereby turning neutral. Absolute price of XLF rose above 7-month highs on 12/10/10. Although the XLF price model is technically neutral at this time, the 50-day SMA of price is rising up toward the 200-day SMA and could turn bullish in weeks ahead. Support 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 15.86, 16.13, 16.90, 17.12, 17.16, and 17.87.
Utilities Bearish, Under Weight. The Relative Strength Ratio fell below 7-month lows on 12/10/10 and remains bearish. Absolute price of XLU fell below 13-week lows on 11/29/10. Support 30.51, 29.66, 27.91, 27.44, and 25.76. Resistance 32.11 and 32.40.
Read more: http://www.benzinga.com/10/12/711283/stocks-at-new-2-year-closing-price-highs#ixzz18Nccvvh7 |
